Dealer Risk Monitor
Rapid developments are making the automotive sector a particularly dynamic and challenging business environment. Doing business is becoming more complicated which may mean that some risks go unnoticed. The BDO Dealer Risk Monitor was specially designed for these situations and specifically for car dealerships.
Identify risks in time
Especially in these times, identifying risks in time is essential for healthy business operations. In the short term, risks result in negative yields and in the long term they may even form a threat to the continuity of your business. Identifying your opportunities and threats enables you to take preventative measures. By using the Dealer Risk Monitor you will be able to anticipate changing situations quicker and respond adequately.
How does the Dealer Risk Monitor work?
Following research amongst car dealerships, an extensive questionnaire was developed, which is specifically aimed at dealerships. The primary and secondary business processes were divided into components in order to give specific indications of potential risks. A BDO adviser will go through the questionnaire with you, and the results are summarised in a report. The risk scores are presented in a graphic illustration, where you can view your risk score at a glance in comparison with, for example, a target score. An optimal score with limited risk.
The Dealer Risk Monitor results are presented to you in a report. This report not only gives you an insight into the potential risks you are exposed to in each individual business process, it also compares your results with those of fellow dealerships. providing you with a clear picture of your position within the market.
Please find below an example of such a comparison as would appear in such a report:
Following the findings the BDO adviser will make an appointment with you to present the results. This will show whether it will be advisable or necessary to make adjustments and suggestions how these should be implemented.
The BDO Dealer Risk Monitor provides:
- a short-term insight into potential minor or major risks;
- a tool to manage identified risks in the future or even avoid them;
- you as entrepreneur more certainty in difficult times;
- tailor-made advice.
If you are interested in the BDO Dealer Risk Monitor or would like to know how BDO can help your automotive business? Please contact our Automotive Sector Group specialists to arrange an introductory meeting without any obligation.